FY2026 Earnings Forecast for Aflac Issued By DOWLING & PARTN

Key Points

• DOWLING & PARTN lifted its earnings outlook for Aflac, projecting FY2026 EPS of $7.10, above the current consensus of $7.08. It also forecast FY2027 EPS of $7.55 and FY2028 EPS of $8.05, signaling continued profit growth.
• Aflac’s latest quarterly results were mixed: it posted $1.75 EPS, missing estimates, but revenue of $4.24 billion beat expectations and rose 27.9% year over year. The stock was trading down 1.7% at the time of the report.
• Analyst sentiment remains cautious overall, with a consensus “Hold” rating and average price target of $112.27. Aflac also announced a quarterly dividend of $0.61 per share, payable June 1, for a 2.1% yield.

Aflac Incorporated (NYSE:AFL - Free Report) - Equities researchers at DOWLING & PARTN issued their FY2026 earnings per share estimates for Aflac in a note issued to investors on Wednesday, May 20th. DOWLING & PARTN analyst J. Hurwitz expects that the financial services provider will post earnings per share of $7.10 for the year. The consensus estimate for Aflac's current full-year earnings is $7.08 per share. DOWLING & PARTN also issued estimates for Aflac's FY2027 earnings at $7.55 EPS and FY2028 earnings at $8.05 EPS.

A number of other equities research analysts also recently weighed in on the company. Piper Sandler restated an "overweight" rating and set a $130.00 price target (up from $125.00) on shares of Aflac in a research report on Tuesday. Mizuho set a $104.00 price target on Aflac in a research report on Monday, May 4th. UBS Group lowered their price target on Aflac from $116.00 to $114.00 and set a "neutral" rating on the stock in a research report on Thursday, April 9th. Keefe, Bruyette & Woods raised their price target on Aflac from $113.00 to $115.00 and gave the company a "market perform" rating in a research report on Friday, April 10th. Finally, Evercore upgraded Aflac from a "strong sell" rating to a "strong-buy" rating in a report on Thursday, April 9th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $112.27.

Aflac Trading Down 1.7%

NYSE AFL opened at $114.81 on Thursday. The stock's 50-day simple moving average is $112.93 and its two-hundred day simple moving average is $111.79. Aflac has a twelve month low of $96.95 and a twelve month high of $119.81. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $58.43 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 2.05 and a beta of 0.62.

Aflac (NYSE:AFL - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.75 earnings per share for the quarter, missing analysts' consensus estimates of $1.80 by ($0.05). Aflac had a net margin of 25.60% and a return on equity of 13.88%. The firm had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.20 billion. During the same quarter in the previous year, the business earned $1.66 EPS. The company's revenue for the quarter was up 27.9% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Aflac by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 57,142,072 shares of the financial services provider's stock valued at $6,301,056,000 after purchasing an additional 6,759,169 shares during the period. Dimensional Fund Advisors LP increased its holdings in Aflac by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,550,855 shares of the financial services provider's stock valued at $499,216,000 after purchasing an additional 67,650 shares during the period. Legal & General Group Plc increased its holdings in Aflac by 0.3% during the 3rd quarter. Legal & General Group Plc now owns 3,926,777 shares of the financial services provider's stock valued at $438,621,000 after purchasing an additional 13,666 shares during the period. Norges Bank purchased a new position in Aflac during the 4th quarter valued at about $420,078,000. Finally, Amundi increased its holdings in Aflac by 22.6% during the 1st quarter. Amundi now owns 3,268,209 shares of the financial services provider's stock valued at $358,555,000 after purchasing an additional 603,426 shares during the period. Hedge funds and other institutional investors own 67.44% of the company's stock.

Insider Activity at Aflac

In other news, major shareholder Post Holdings Co. Ltd. Japan sold 166,000 shares of Aflac stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $112.38, for a total value of $18,655,080.00. Following the transaction, the insider owned 51,723,100 shares in the company, valued at approximately $5,812,641,978. The trade was a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 881,036 shares of company stock valued at $99,703,131 in the last quarter. 0.80% of the stock is currently owned by insiders.

Aflac Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Wednesday, May 20th will be issued a $0.61 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $2.44 annualized dividend and a dividend yield of 2.1%. Aflac's payout ratio is currently 27.70%.

Aflac News Roundup

Here are the key news stories impacting Aflac this week:

• Positive Sentiment: DOWLING & PARTN raised long-term earnings expectations for Aflac, estimating FY2026 EPS at $7.10, FY2027 EPS at $7.55, and FY2028 EPS at $8.05, which is above the current full-year consensus of $7.08 and suggests room for stronger profit growth. Aflac stock report
• Positive Sentiment: Aflac’s quarterly dividend of $0.61 per share, payable June 1, reinforces the company’s appeal as a steady income stock and may help support investor demand. Aflac stock report
• Neutral Sentiment: Analyst sentiment remains mixed overall, with a consensus “Hold” rating and an average price target of $112.27, suggesting Wall Street sees limited near-term upside despite Aflac’s stable fundamentals. Aflac stock report
• Negative Sentiment: EVP Steven Kent Beaver sold 5,508 shares, continuing a recent pattern of insider reductions that can make investors question near-term confidence. Steven Kent Beaver Sells 5,508 Shares of Aflac NYSE: AFL Stock
• Negative Sentiment: Major shareholder Post Holdings Co. Ltd. Japan also sold another 30,400 shares, adding to multiple recent insider sales and potentially pressuring sentiment around the stock. Insider Selling: Aflac NYSE: AFL Major Shareholder Sells 30,400 Shares of Stock

About Aflac

Aflac Incorporated (American Family Life Assurance Company of Columbus) is a provider of supplemental insurance products designed to help policyholders manage out-of-pocket health care and living expenses. The company underwrites a range of individual and group policies that typically pay cash benefits directly to insureds when covered events occur, enabling greater financial flexibility for medical treatment, hospital stays, critical illness, and related costs. Aflac's product mix includes supplemental health insurance, life insurance and other specialty coverages intended to complement primary medical plans.

Founded in the mid-20th century and headquartered in Columbus, Georgia, Aflac distributes its products through a combination of employer-sponsored programs, independent brokers and agents, and direct marketing.

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